The historic trade deal between the U.S. and the U.K. aims to enhance market access for American exporters, particularly in agriculture, and strengthen U.S. national security. The deal also includes provisions for reciprocal trade with the U.S. and the U.K.

Also of note:

• The reciprocal tariff rate of 10%, as originally announced on Liberation Day, is in effect.
• The United States will agree to an alternative arrangement for the Section 232 tariffs on UK autos.
• • Under the deal, the first 100,000 vehicles imported into the U.S. by UK car manufacturers each year are subject to the reciprocal rate of 10% and any additional vehicles each year are subject to 25% rates.
• The United States also recognizes the economic security measures taken by the UK to combat global steel excess capacity and will negotiate an alternative arrangement to the Section 232 tariffs on steel and aluminum.
• • This deal creates a new trading union for steel and aluminum.